Flagstone Expands Foreign Currency Savings Options for UK SMEs

Flagstone, the UK's largest cash deposit platform, has expanded its services to include dollar (USD) and euro (EUR) business savings accounts. This move aims to cater to the growing demand from UK SMEs for foreign currency savings products that are as flexible and efficient as their sterling (GBP) accounts.

The company estimates that around 1.05 million UK SMEs hold foreign currency balances, worth between 5% to 15% of their total cash deposits. Of these, 72% hold USD and 65% hold EUR.

Flagstone's multi-currency savings options allow businesses to manage all their cash savings accounts in one place, providing global visibility of their cash position and FSCS protection. This enables SMEs to stay in control of their cash reserves and maximize returns on their foreign currency holdings.

The new USD and EUR business savings accounts are provided by UK licensed banks and building societies, ensuring that funds deposited are eligible for the same level of FSCS protection as GBP cash. As of August 12, 2026, terms range from 1 month to 7 years with a top rate of 3.83% AER.